Dangote Industries Limited is set to make the Dangote Petroleum Refinery the largest in the world, with a capacity of 1.4 million barrels per day (bpd).
The refinery, which is already the largest single-train refinery in the world, will more than double its capacity within the next three years.
The expansion project, which will be financed through a mix of cash flow, public listing, and strategic investors, is expected to further strengthen Nigeria’s energy security, reduce foreign exchange outflows, and save the country billions of dollars annually.
According to the President of President of Dangote Industries Limited, Aliko Dangote, the refinery will also expand its polypropylene production capacity from 900,000 metric tonnes to 2.4 million metric tonnes per annum.
The expansion is expected to generate revenue exceeding $20 billion annually, making it one of the most valuable industrial assets on the African continent.
The project will also create additional jobs, support thousands of SMEs, and deepen Nigeria’s industrial base.
Dangote reaffirmed plans to list a significant portion of the refinery’s shares on the Nigerian Exchange (NGX) within the next year.
The company aims to give Nigerians value and democratize ownership, allowing them to share in the value creation.
Dangote assured Nigerians that there would be no fuel scarcity or price hike during the festive season, despite recent global price increases.
The company restated its committment to maintaining uninterrupted supply of petrol throughout the festive period.
Dangote praised the Federal and Lagos State Governments for their continued support, and commended the government’s intervention in mediating recent disruptions at the refinery.
He expressed confidence in Nigeria’s future and the potential of the Dangote Refinery to drive Africa’s industrial renaissance.
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